November 2005

SBA launches ‘Give a Lending Hand’ initiative

The U.S. Small Business Administration has launched an initiative to help match volunteers from the community with hurricane victims in need of disaster loans. The initiative is called “Give a Lending Hand.”

In recent weeks, SBA has expedited the disaster loan application process for business loans under $100,000, simplified documentation requirements for business disaster loans, urged lenders to provide deferment relief to borrowers in disaster-stricken areas, and hired thousands of additional staff to double the size of the agency.

Under the “Give a Lending Hand” initiative, SBA is asking the business lending community to solicit their professional employees and identify and recruit those willing to assist SBA in processing business disaster loans.

Pursuant to this initiative, private loan officers will temporarily be hired by SBA as “Special Government Employees.” They will review and recommend the approval or decline of business disaster loans. Those involved in the program will be temporarily detailed to our Fort Worth Processing Center in Texas for a minimum of 60 days.

In addition to lenders currently employed in the industry, SBA is also seeking financial professionals who have retired. These individuals must have retired within the last 10 years and be interested in becoming temporary government employees for a minimum of 180 days.

For more information on SBA’s Disaster Assistance efforts, please visit www.sba.gov/disaster.

Source: U.S. Small Business Administration, www.sba.gov

Industry News from:
Chiropractic News from: